NEW YORK (dpa-AFX) – Wall Street showed itself in the course of trading on Wednesday without a clear trend. Second-tier stocks and technology stocks outweighed moderate losses. At the start of trading, all leading indices had once again come up with record highs. Stock marketers justified the slowdown with “tame” US inflation data, which raised fears that economic growth would continue to be weak in the short term.
The Dow Jones Industrial (Dow Jones 30 Industrial) rose to a high of 31,509 points immediately after the start of trading. Shortly thereafter, however, it quickly went into the minus zone, which was followed by a sustained pendulum movement around the day before. Most recently, the US benchmark index was 0.09 percent higher at 31,405.00 points. The other leading indices also initially reached record highs. The market-wide S&P 500 recently lost 0.10 percent to 3907.51 points. The technology-heavy NASDAQ 100 lost 0.36 percent to 13,637.70 points.
On the corporate side, quarterly figures made the headlines again, and mostly positively. The shares of Coca-Cola only rose at the start of trading, most recently the price stagnated at the previous day’s level. On an adjusted basis, the brewing group, which is part of the Dow, exceeded expectations with its earnings per share.
At Under Armor, investors reacted happily to the interim report, here the shares advanced by 7.6 percent. At General Motors, however, the numbers were not well received, as a minus of 2.8 percent showed. However, the automaker’s shares had recently reached their highest level since their return to the stock market in 2010.
In the tech sector, the network specialist Cisco was the topic of conversation. After the highest level in a year reached the day before, the rally threatens to end for the time being. Despite solid numbers, it was down 4.4 percent. That put stocks at the bottom of the Dow. According to experts, the results and outlook fell largely as expected.
The papers from Twitter fared better, increasing by 8.8 percent. The short message service expanded its business significantly in the past quarter, even if the development of user numbers remained subdued. Jefferies analyst Brent Thill was impressed by the significantly exceeded expectations for sales and operating profit.
The transport service broker Lyft lifted the mood of its investors with a cost development praised by analysts, which enabled quarterly figures to be above expectations. The shares rose by 5.6 percent. That of the competitor Uber followed with a plus of 5.2 percent./edh//he
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